On September 18, the first store of the Russian jewelry chain Adamas was opened in Belarus. About this write Vedomosti quoted the company’s CEO Vladislav Golovkin as saying.
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By the end of 2025, 10 Adamas retail outlets should be operating in Belarus, the top manager said. The company described the opening of stores in this market as a “strategic development” in the CIS countries.
Vladimir Zboikov, executive director of the Russian Jewelers Guild, said that in monetary terms Belarus accounts for about a quarter of Russian jewelry exports. This is the second largest foreign market after Kazakhstan.
Golovkin believes that the company’s total investment in opening stores in Belarus will amount to 250-300 million rubles. He did not specify how much revenue Adamas stores should earn in Belarus, but noted that in Kazakhstan, on average, revenue per outlet is 20% higher than in Russia.
The volume of Russian jewelry supplies to Belarus at the end of 2021 amounted to $33 million. In 2022 and 2023, the volume of supplies did not change significantly.
The Ministry of Finance previously decided to postpone the mandatory labelling of jewellery for one year. The procedure was supposed to start on 1 September 2024, but the deadline was postponed to September 2025. This is expected to reduce the administrative burden on market participants.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
